Hyundai, Tata, others lobby Indian state against hybrid support as Toyota rivalry deepens

NEW DELHI, Aug 2 (Reuters): Hyundai, Kia Motors, Tata and Mahindra are lobbying India's most populous state not to offer incentives for hybrid cars, saying the move - set to help rivals Toyota and Maruti Suzuki - would hit targets on adopting electric cars and investment plans.
Four separate company letters to Uttar Pradesh, seen by Reuters, highlight the rivalry between automakers in a country where taxation is skewed in favour of EVs.
In a major lobbying win for Toyota (7203.T) Uttar Pradesh, which alone accounts for 10 per cent of India's car sales, waived registration taxes on some hybrid cars last month, making them 10 per cent cheaper and resulting in savings of up to $5,200 on a Toyota Camry hybrid sedan, for instance.
Hyundai, Kia, Tata and Mahindra & Mahindra have not publicly commented on Uttar Pradesh's move, but their letters to the state show they are opposing the tax waivers, citing the impact on India's goal of ensuring that 30 per cent of new car sales are electric from 2030.
Mahindra's letter flagged concerns about disruption to the EV market.